Headline Teachers, the teaching division of the now defunct AIM-listed recruiter SBS, has been bought out by its management.

Recruiter has learned that Headline’s management bought the business and its assets for an undisclosed sum at the beginning of this month.

Receivers Deloitte and Touche put the division up for sale after SBS, primarily an IT recruiter, hit a financial brick wall last month.

Headline provides teaching staff to schools in Hertfordshire and the home counties and is currently looking to expand following the break-up of SBS.

A spokesman for Headline said that all its teachers had been paid despite the financial upheavals at its parent company.

The company has been trading for ten years and has plans to recruit teachers from Australia and New Zealand.

Heavily indebted SBS had been reliant on its bank to provide a financial lifeline – but was forced to go into receivership when lengthy discussions to extend these provisions broke down.